What if the U.S. Misses the Borrowing Deadline?

Jeffrey Sparshott reviews significant milestones on the debt calendar on October 17 and several days beyond, and their importance. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... the the ... October seventeen the US doesn't exactly that's the market and exactly one out of money ... note tomorrow is the day when the Treasury would exhaust its ability to borrow funds ... still would have to operate with cash on hand which the Treasury estimates about thirty billion dollars plus whatever it brings in tax revenue ... okay so I guess I'm a ... dumb dumb register withholding compact at any point is unbecoming means that right now ... so Thursday Oct twenty second what happens in them ... um October twenty seconds ... it's loaded according to some estimates and that's when we can start missing some payments aam ... it's ... the trip would have thirty billion cash on hands and expenses ... that cash on hand and expenses can run as high as sixty billion dollars in the day ... Treasury makes about eighty million payments in a month ... so aam depending on how all funds come in and the need for for money to go out ... of this recording from estimates that could be the day when that when Treasury has to start making some tough decisions ... to some of that bad weather the kids get Seymour Securites irate ... such security nominees can impacted the next they'll tell that twenty five ... with this um so Security payments to ... um ... according to some estimates the Treasury would still be able to to pay ... through that date the but its but its really un clear we're heading into uncharted territory and if it got to the point were Treasury had to make some decisions ... it's not clear they would be Obel the say ok within a store security first and will skip some other stuff ... aam they say their system isn't really set up to prioritize payments and the Treasury Secretary Lew said that the result would be chaos of your forces trying to that Imam of of of a fuss of that's pretty bad say what a slab ... there's something to run fifty five billion dollars in payments to for so Security Medicare and the andthe other ... aam obligations and in it that when Treasury just I don't ... know we would have the money ALM so ... they would have to decide ok are we going to pay interest on it that ... are we going to pays for security are how is this gonna work and aam ... it's it's not clear ... that there's any good answer ... I dun surprise them sang of a check is in the mile is can it do any good ... I liked us ... a few of us of announces that its architect is a mild opening on to something you're a much Jeff SpA struggle the will Street don't we appreciate time so